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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (24611)8/18/2001 11:35:03 AM
From: westpacific  Respond to of 30051
 
My oversold/overbought indicators are all still pointing down. And the VIX is still pointing up. Until this changes and turns you cannot go long. This did not occur on Friday in any index - NAS, NDX, DOW, SP.

I live by these indicators in a bear market.

I will as a rule never go long until the trend has changed on them - so what if I miss a buck or two. As I said Friday - risk management is your number one priority, let the technicals dictate your trade, not hope and guess work - nor past history, just because FED is on Tuesday does not mean dick.

All the best

West



To: westpacific who wrote (24611)8/18/2001 2:04:08 PM
From: Math Junkie  Read Replies (1) | Respond to of 30051
 
"As for Monday, I would not want to be short semis, BRCM, XLNX, NVDA, AMAT. Nor would I want to be short any big cap tech."

Now you tell us! You darn near scared me out of my trading positions in semi equips and big cap techs on Friday. That's why I was asking so many questions.


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